UAW could own majority of Chrysler

And you were all so worried that the UAW were getting the short end of the stick. Looks to me like the UAW is about to discover what it's like to be on the other side of the table. Or, are they on both sides of the table? I imagine the price of a new Malibu will soon be as much as a new Mercedes.

Unions running Chrysler... Isn't that like bankers running the treasury? Oh wait.. we already have that too so why not.

Ironic. The group that killed the U.S. auto industry now gets to run it. American capitalism is dying a death of a thousand cuts. I can feel greatness slipping our grasp.

Obamanomics at work... Socialism for the banks... and where to start best..."transportation"... seems like a pattern at work...

Another reason not to buy a Chrysler product. Over-priced, poorly made, government subsidized, mafia owned.

"We finally will have what we have always wanted a working relationship with a friendly government."

Godfather Part II

The treasury has forced Chryslers bondholders to accept 2 billion cash of an outstanding 7 billion dollar debt while at the same time the government says that Citigroup will probably need more cash. Who was the rocket scientist that came up with that plan? It now looks as if the Union will own 55% of Chrysler with another 20 to 35% going to a foreign company. When this boondoggle of a deal finalizes the government will give another 6 billion dollars to Chrysler to help restructure. And the winner is Cerberus , the privately held hedge fund who would not invest in their own company. And the loser's are the american taxpayers. This is absolutely ridiculous.

boycott chrysler!!!!

Tony Soprano is now a CEO

This proves what many have said along, we don't need unions....I thought we had unions to protect the poor, helpless employees from the overbearing, greedy, overpaid management and owners.

This is really messed up but.......one simple commerical should save Chrylser...

come on every body, say it together....."Buy Union, your life, oops,... country depends on it."

Would the last person left standing in a free United States of America turn off the lights. Government interference in our personal lives, over taxation, and now goverenmental interference into capital enterprises. Have a nice day citizen of the new USSR!

UAW running the Chrysler company, if it works out, that will take the wind out of the sails of the union busters and the dummies, who think a company will take care of them better than a union for the workers.--Ok lets get it on.

whats gonna happpen at the next contract negotiations is what i want to know hehhee now that is one i would like to be there for

Chrysler will not survie this. If it does, it will be only a ghost of its former self. The best thing that Chrysler can do is to keep only the most profitable models and dump the rest. Keep the Charger/300, Caravan, Challenger, Ram, Jeep Wrangler, and Grand Cherokee. Toss everything else.

I had a 2005 PT Cruiser with a stick, and the transmission went bad in just 30,000 miles. They put in a new transmission, and that second one went bad after 6,000 miles. After they put in the third transmission, I went to Saturn and traded in the PT Cruiser for a Saturn Aura. NO, it is not my driving! I had a 98 Ford Escort ZX2, and it went 105,000 miles on one transmission and one clutch. Chrysler just can't build good small cars. Unfortunately for them, the American consumers want more small and mid-sized cars.

I don;t think that giving the union a 55% stake in the company will make one difference. The union is there to manage employees, not to design cars. Chrysler should pray and hope that Fiat hooks them up with some small cars very soon, or Chrysler will just fade into oblivion in the next 5-7 years.

Someone please explain to me how putting the control of the company in the hands of the UAW is going to do anything to enhance competititiveness.... I expect the governement will continue to pump money in year after year to prop this charade up and keep it in business, and as a result the UAW will be even MORE in the pocket of the liberal democrats.

What we are witnessing right now is the deck being completely stacked at every turn to create dependence on a benevolent government that all Americans are totally dependent on for everything they have. I used to wonder how the German people could be so misguided into putting Adolf Hitler into power, but now I am witnessing first-hand the enamored masses in this country joyfully turning over the keys to everything in return for taking care of us. History is repeating itself...

First off how can you compare what is going on today to the killing of so many that's just sick. Second I think they are thinking by putting it in the UAW'S hands they are going to get average americans views of what people want. I'm not saying that's the greatest idea americans change their minds with the blink of an eye. What people are forgetting is the people that work in the uaw are normal average middle class americans they are not rich by any means and are no different than you and I. I am so sick of people talking like these people are rich, maybe if they are in management but most are not.

Every bank mentioned involved in the debts are part of the Federal Reserve. THEY ARE ALL INSOLVENT because of all the derivatives losses. We are giving them hundreds of billions of dollars......... NOW THE BANKER SNAKES WANT $2 BILLION CASH FOR $7 BILLION IN WORTHLESS DEBT???

Put the $6.9 billion in debt on the private auction block and lets see what it is worth..... NOTHING! What idiot would pay $2 billion for $7 Billion's worth of a bancrupt company ready to file? This WILL go into bankruptcy and the FED banks will walk away with $2 billion cash and leave the taxpayers with worthless paper.

God himself could not make a car company in financial trouble become solvent in this economy. NOBODY is buying new cars. There is a "no margin/profit" in any sale except those fleet sales to the Federal Government. Even the best companies with the best products are struggling just to lose money and keep inventory moving. There is NO TIME to rebuild a company in this economy...... NONE, It does not matter who is in charge of Chrysler.

This is pure re-payment of lobby money to the Democratic party and a good nose thumbing to the American taxpayers. Everyday now I read about another expenditure a monkey could tell was a blatantly irresponsible decision. This makes me sick.

That's the BEST IDEA I have heard yet. They can pay themselves all their bonuses out of the profits. Americans usually don't stave to death, but there is a first time for everyone.

If I am not mistaken I think Chrysler filed for Bankruptcy back in the late 70"s (I was young and naive back then)  If that is the case I think it is time to let them sink.  I don't want to see hard working folks lose their jobs but these large corporations missmanaging their funds has got to stop.  I guess they never heard of the word BUDGET!

The end of the line for Chrysler. This is a very small auto company to begin with and now the company will have to pull back even further. The only thing they got is the Jeep line. When gas prices go back up this will end Chrysler.

No investors will ever put money into either GM or Chrysler now after these dealings sold out the bond holders.

The big winner in the Chrysler deal has been the equity steak holder, Cerberus Capital, they can finally get out from under this mess.

I THINK I'm glad I own Ford stock and no GM. Ford seems to be the only one at least willing to apply free market principles to their situation. Chrysler is DOA. American capitalism in on life support and Obama is trying hard to pull the plug.

geez...Going forward the union would just be scewing them selves correct? Life is good!

<!-- /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-parent:""; margin:0in; margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:12.0pt; font-family:"Times New Roman"; mso-fareast-font-family:"Times New Roman";} @page Section1 {size:8.5in 11.0in; margin:1.0in 1.25in 1.0in 1.25in; mso-header-margin:.5in; mso-footer-margin:.5in; mso-paper-source:0;} div.Section1 {page:Section1;} --> <!-- /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-parent:""; margin:0in; margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:12.0pt; font-family:"Times New Roman"; mso-fareast-font-family:"Times New Roman";} @page Section1 {size:8.5in 11.0in; margin:1.0in 1.25in 1.0in 1.25in; mso-header-margin:.5in; mso-footer-margin:.5in; mso-paper-source:0;} div.Section1 {page:Section1;} --> WastingtonDC: Detroit will never prosper, or survive, as long as 20 million local, state, and federal bureaucrats work with congress, to force the auto industry to build the wrong products. GM can build a Plug In & Out diesel/CNG fuel/electric hybrid truck, sized to meet the needs of 80,000,000 working Americans, in any of their closed truck factories, and sell every one they make, right now. Or they can let foreign manufacturers get the concept right, first, and introduce the World Truck Hybrid, as GM goes out of business. Working Americans must have fuel/electric hybrids, now, at $60K to $120K, or more, for heavier, long range models. None of us can haul our crews, tools, machinery, generators, and materials, in the fly weight Plug In only electrics that are the flavor of the day. The few millions of those fuel/electric mini cars sold this decade, will allow our cadre of millionaire extremist environmentalists to make statements on greening America, while our GDP does not get built, serviced, or delivered, when OPEC's terror financiers tighten the tap, next time. Working truck owners use, and for that single reason, are best placed to save, some 30 to 60 percent of our liquid transport fuels, this decade, or to replace them with bio-fuels, or US CNG fuels, now. Using World Truck million mile hybrids, present technology batteries, and charging from the grid at off peak electric rates, and charging to the grid, or to our spare battery pod trailers, during peak electric rate hours, we can pay for our investment in a vehicle that lets us live off grid, farm all electric, and cut OPEC's terror financiers off at the knees. The rest of the world's workers need the same vehicles, now, to power their family compound, or village when the truck is not on the highway, and to use the locally produced bio-fuels that American farmers and co-ops will use to leave the grid entirely, except when we sell the grid our power, at bonus rates. GM must reclaim it's ownership of the productive worker's vehicle market, or turn out the lights, as the last GM worker starves out of Detroit. The congress's envisioned, limitless subsidy, extorted from our taxpayers will never make the flyweight hybrid's capable of eliminating our dependence on terror financier's cartel/suppliers, for petroleum based fuels. On the other hand, simple federal preemption of all title, license, and and other taxes and fees extorted by our 20 million civil servants, most neither civil, nor servants of our peoples, from working truck owners, and passed on to their customers, and their helpless families, will result in energy independence, within a generation, at no cost to the taxpayers, by stopping egregious tax, fee, fine, and roadside repair extortion that costs billions of dollars and thousands of highway deaths and injuries yearly, all for nothing but revenue competition among city, county, state, and federal bureaucracy. The "no felt cost to American taxpayers" solution is easy, and simple: Issue a NAFTA wide fixed price, federal $50.00 title and permanent license plate, for any new, used, or converted hybrid vehicle, of any size, or weight, and their power pod pup trailers, and any trailer used by those hybrids, that allows "free trade" use of any NAFTA highway, including all of the US system, Canada, et al. for the life of the vehicle, as long as it uses fuel produced within NAFTA, or electricity generated within NAFTA, to replace liquid transport fuels imported from outside NAFTA. This relief from stupid tax competition subsidy, of $5000 to $10,000 per year, for every GM/Detroit, UAW/CAW World Truck Hybrid series vehicle, will end the production of light medium and large Petroleum Fueled vehicles within a decade or two, and free America from imported energy dependence, while reducing the cost of working American's personal and business vehicles, and the draconian hidden taxes the bureaucracy imposes on every thing purchased by American citizens. That would be everything not delivered the last miles, to the customer, or vendor, by airplane, ship, or train, using airfields, piers, or train depots, hidden just like the draconian tax, fee, fine and roadside repair extortion that costs every consumer a huge portion of the price of every product or service that makes our life possible, and worthwhile. Of course, the infrastructure necessary to support fuel/electric hybrid trucks will be built first, and fast, by the private sector, and will support the Plug In and Out mini hybrids that will be built, once we have returned the OPEC cartel and their terror financiers to their caves, with their misguided supporters in relative penury, since their terror tax on all petroleum based transport fuels will be collected, by NAFTA and other nations of the free world, at their own borders, instead of by the terror financiers of the Levant. Break out, build the products that we need, and break the backs of our terror financier petroleum suppliers

let's see... UAW owning majority of Chrysler...and according to reports yesterday, UAW could be a major owner in GM along with the FED...

...and the UAW helped elect obummer...who wants to nationalize the auto business along with banks, insurance,education,health...

it just keeps getting closer and closer to socialism...

UAW owning a big share of Chrysler is great news, its the American way, the unions now will share in the benefits when its company prospers, unlike the new USAGM they have an incentive to succeed, motivate to build a great car that people want to buy and then reap the rewards of their hard work. Before they were working for a pay check now they are motivated to work to secure their future, maybe FIAT is the real winner because unlike GM it owns a company that is motivated by democratic principals, the Italians could very well have the last laugh, laughing all the way to the bank.

I love it.....now they can't say those rich sobs who do nothing and get paid a ton are ruining the company..they now own it and can pay themselves $500 bucks an hour or whatever they want....be interesting to see how long they last, my money says not long.